DEERFIELD BEACH, Fla., Feb. 17, 2016 (GLOBE NEWSWIRE) -- Capstone Companies, Inc. (OTC:CAPC) (“Capstone” or the “Company”), a designer of innovative LED lighting solutions including power failure lighting, today announced record preliminary revenue of $15.6 million for 2015. Preliminary results were higher than the Company’s previous expectation of $15.5 million in revenue. Fourth quarter revenue of $6.9 million was driven by holiday re-order activity.
First quarter 2016 revenue is expected to be $1.6 million, measurably higher than the Company’s expected year-end backlog of $1.0 million, representing significant year-over-year growth. Due to seasonality related to the holiday season, the first quarter typically has lower volume than the trailing fourth quarter.
Stewart Wallach, President and CEO of Capstone, commented, “Our sales growth validates our international expansion and new product development strategies. Capstone LED lighting products are now available on four continents and we are excited by the growing interest we are realizing in international markets. With the solid backlog we have starting 2016, we believe we can now demonstrate a streak of quarterly revenue growth.”
He added, “Through continuous expansion of our product lines and our ability to rapidly scale up our manufacturing to serve growing customer demand, Capstone is positioned to become a prominent player in the lighting industry while selling our familiar Capstone Lighting® products as well as our new line of LED lighting products under the exclusive N.A. trademark license for the Hoover® HOME LED brand.”
The company anticipates reporting its 2015 fourth quarter and full year results on Wednesday, March 23, 2015.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly-owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing, logistics, and distribution of consumer and institutional products, including the Hoover® HOME LED lighting product line, to accounts throughout North America and in international markets. See www.capstonecompaniesinc.com for more information about the Company and www.capstoneindustries.com for information on our current product offerings.
FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like “anticipate,” “expect,” “project,” “continue” and similar words. These statements are based on the Company’s and its subsidiaries’ current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include consumer acceptance of the Company’s products, its ability to deliver new products, the success of its strategy to broaden market channels and the relationships it has with retailers and distributors. Prior success in operations does not necessarily mean success in future operations. The ability of the Company to adequately and affordably fund operations and any growth will be critical to achieving and sustaining any expansion of markets and revenue. The introduction of new products or the expanded availability of products does not mean that the Company will enjoy better financial or business performance. The risks associated with any investment in Capstone Companies, Inc., which is a small business concern and a "penny-stock Company” and, as such, a highly risky investment suitable for only those who can afford to lose such investment, should be evaluated together with the risks and uncertainties more fully described in the Company’s Annual and Quarterly Reports filed with the Securities and Exchange Commission. Capstone Companies, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Contents of referenced URLs are not incorporated into this press release.